Appleby is set to benefit from £1.5 million in flood protection as part of a government scheme called the 'frequently flooded allowance'.
The nationwide scheme is designed to help communities which have been flooded more than once in the last 10 years.
£100 million has been allocated and Appleby has been named as one of the first 53 projects to share £26 million.
Appleby suffered from serious flooding in 2015 due to Storm Desmond, and organisations, such as the Appleby Emergency Response Group, were created in the community to better protect them for such incidents in the future.
The town centre still is at risk to flooding though, with the River Eden at risk of bursting its banks.
Dr Neil Hudson, MP for Penrith and The Border, said: "This is a hugely significant sum of money that will go a long way to better protecting Appleby from flooding.
"I’ve seen first-hand the devastation rising water can cause in the town and speaking to residents I hope this will give them peace of mind when heavy rain starts to fall.
"Tragically smaller communities across Cumbria, and the country, are periodically submerged when extreme weather events strike, therefore I absolutely welcome the Government’s decision to tailor funding to better support for smaller communities requiring complex flood schemes.
"I understand the impact of flooding goes far beyond the material damage; losing your home, business or possessions can leave residents feeling hopeless or anxious about future floods so I will continue my push to boost rural mental health service provision, so support remains even after the blue lights leave."
The government announced in 2020 that the amount invested in flood and coastal erosion schemes would be doubled in England to £5.2 billion between 2021 and 2027, providing around 2,000 flood defences.
Environment Minister Rebecca Pow added: "We know only too well the devastating impact that flooding can have on communities and businesses, as we face more extreme weather brought about by climate change.
"I am determined that we do whatever we can to prevent flooding that affects so many towns and villages across the country.
"This much-needed funding will go a long way to support those whose homes and livelihoods are repeatedly threatened by flooding and forms a key part of our record £5.2 billion investment by 2027 to protect communities in England better."
Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know...